Annual Report 2013
107/182

Notes to Consolidated Financial Statements1 Notes to going concernNone2 Notes concerning Important Items that Provide the Basic Information forthe Development of the Consolidated Financial Statements1. Items concerning the Scope of Consolidation for Reporting(1) Number of consolidated subsidiaries: 38Sogo Energy Corporation was included in the scope of the consolidated subsidiaries ofthe Company, since it became a subsidiary of the company through stock acquisitionduring FY2012.(2) Major Non-consolidated Subsidiaries:Tohoku Cosmo Gas Co., Ltd.Reason for exclusion from accounting consolidation:The Company has 18 subsidiaries that were excluded from its consolidated subsidiariesbecause they are small businesses and their respective total assets, net sales, and netincome/loss and retained earnings (both amounts equivalent to what is accounted forunder the equity method) have no material impact on the consolidated fi nancial statementsof the Company.2. Items concerning the Application of the Equity Method(1) Number of Non-consolidated Subsidiaries Accounted for Using the EquityMethod:18Major subsidiaries: Tohoku Cosmo Gas Co., Ltd.Sakai LPG Terminal Co., Ltd. was excluded from the scope of consolidated companiesaccounted for using the equity method due to the sale of all of its shares owned by theCompany during FY2012.Hiroshima Cosmo Gas Co., Ltd. and Yamato Trading Co. L.L.C. were excluded fromthe application of the equity method since their liquidation processes were completedduring FY2012.(2) Number of Affi liated Companies Accounted for Using the Equity Method: 6Maruzen Petrochemical Co., Ltd., United Petroleum Development Co., Ltd., Tozai OilTerminal Co., Ltd., Okinawa CTS Corp., GotoKishiku Wind Power Laboratory Co., Ltd. andHyundai Cosmo Petrochemical Co., Ltd.(3) Major Business Entities of Affi liated Companies Not Accounted for Using theEquity Method:Ogishima Oil Terminal Co., Ltd., Kasumi Sanbashi Kanri Co., Ltd.Reasons for Exclusion from the Application of the Equity Method:The equity method does not apply to the above affi liates because their net income/lossand retained earnings (both amounts equivalent to what is accounted for under the equitymethod) have little impact on the consolidated fi nancial statements of the Company on anindividual basis, nor have any material impact on them on an aggregate basis.(4) Special Remarks Necessary to Make concerning the Procedures of theApplication of the Equity Method:As for the subsidiaries and affi liates which are subject to the application of the equity methodand which have different accounting periods from that of the Company, such businessentities’ fi nancial statements for their accounting periods are used for reporting herein.3. Items concerning the Accounting Periods of the Consolidated SubsidiariesOf the 38 consolidated subsidiaries, Abu Dhabi Oil Co., Ltd., Qatar PetroleumDevelopment Co., Ltd., Cosmo Oil Ashmore Ltd., Cosmo Oil International Pte. Ltd., CosmoOil (U.K.) Plc., Cosmo Oil Europe B.V. and Cosmo Oil (Shanghai) Co., Ltd. adopt a fi scalyear ending December 31 and Akita Wind Power Laboratory Co., Ltd. adopts a fi scal yearending February 28, respectively. The consolidated fi nancial statements herein have beendeveloped by using their fi nancial reports as of December 31, 2012 or February 28, 2013and any material transactions arising between end of their fi scal year and consolidatedfi scal year, the date for the consolidated settlement of accounts for the Company, arerefl ected on the consolidated fi nancial statements herein by making necessary adjustments.

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